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Iran is exporting crude oil to india around 350,000 barrels hopes to increase this number. Bijan Zanganeh ( Iran Oil Minister) was quoted by saying on saturday after meeting with Indian counterpart Dharmendra Pradhan. The Shana news agency, linked to Iran's oil ministry, quoted Zanganeh as saying Indian oil purchases from Iran were at 350,000 barrels a day and that we hope this number will increase now that sanctions have been lifted. The two ministers mutually signed a cooperation agreement covering oil exports, the petrochemical sector and the development of a gas field, though there were no reports of any final deals being signed. Pradhan said India was ready to invest $20 billion in the port of Chabahar port in southeastern Iran, according to Shana, adding that Iran and India's energy ties are no longer limited to crude oil imports.  Zanganeh said Indian companies were looking to invest in oil, gas and petrochemical projects in the Islamic Republic, but that reaching deals was a difficult task and needs time. 
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India has began exporting diesel to Bangladesh via rail with the roll-out of first consignment from Siliguri. A goodwill rail rake consignment carrying diesel from Siliguri marketing terminal of Numaligarh Refineries Ltd (NRL) was flagged off on Thursday, an official said. The supply of 2200 tons (2700 kilolitre) diesel of BS III of Euro-III Grade with 350 PPM sulfur content will travel by rail from Siliguri to Parbatipur storage depot of Bangladesh Petroleum Corporation (BPC) in Bangladesh. From Siliguri, the 42 wagons (each with a capacity of 64 kl) rail consignment will travel over 516 km (253 km in India and 263 km in Bangladesh) on the existing railway line via Rangapani, Singabad, Rohanpur to reach Parbatipur on March 19. Presently Bangladesh has requirement of petroleum products through imports at Chittagong port. The products are subsequently transported to the rest of the country using river route.
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Nepal has signed an agreement with India to import additional 80MW of electricity. Agreement was signed between Energy Ministry of Nepal and Government of Indian Nodal Agency NVNV. India will supply additional 80MW energy from tomorrow through the newly-built 400KV Muzaffarpur-Dhalkebar transmission line. As per the terms of agreement India will sell power at Nepali ₹ 5.5 equivalent to Indian  ₹ 3.45 per unit to Nepal Electricity Authority (NEA).
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Export-Import (Exim) Bank on Monday said that had entered into a memorandum of understanding (MOU) with Andhra Pradesh State to promote exports from the state to Overseas. The MOU was signed by (Yaduvendra Mathur) Chairman, (Shamsher Singh Rawat) and Managing Director, Secretary and Commissioner for Industrial Promotion, Andhra Pradesh State.
Exim Bank seeks to support the exporters having operations in Andhra Pradesh in achieving higher exports by facilitation of market linkages through its market advisory services, which will assist in identifying suitable partners. Exim Bank said in a release. Also the bank would help develop skills through capacity building workshops, help exporters' participation in select trade fairs and exhibitions, and through research activities. Exim Bank said it would also use its strong institutional linakges it has developed over the years with institutions in markets like USA, Singapore, Japan, Australia, Europe etc.
It said linkages will help facilitate technology transfer to the technology-seeking enterprises in Andhra Pradesh. Exim Bank said it will further extend funding facilities to exporters from the state so as to provide them opportunity to access the global market.
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 The United States has opposed India's latest round of incentives to provide a fillip to exports, alleging violation of a global trade rule for export competitiveness in textiles.

Commerce department officials said the US raised this issue more than a week ago, after India increased support for exports of several products including textiles while expanding the scope of the Merchandise Exports from India Scheme (MEIS) on October 30.

The government included exports of cotton fabrics, both woven and knitted, and made-ups to leading markets including African countries under the MEIS. Under the World Trade Organisation's agreement on subsidies and countervailing measures, when the export share of a developing country with per capita income below $1,000 a year touches 3.25% in any product category for two consecutive calendar years it is deemed to have gained "export competitiveness". 
Source:ET




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